The present invention relates to a storage assembly which can contain various sports equipment such as basketballs, soccer balls, tennis balls and the like and which may be suspended from the ceiling of a room or garage in order to effectively utilize available space. Typically, such equipment is stored in closets, drawers or containers. This means of storage requires floor space and items of furniture with side walls, which is a wasteful means of storage. Moreover, baskets or flat shelves which are capable of being suspended do not provide an effective way of retaining sports items of various shapes and sizes in the entire space between the shelves or baskets.